Forex daily trading

Hope all is well the great community of 212.
I am an cfd forex trader on 4 hours time frame and I need a bit of advice and help regarding of my trades and the time of it.
The fact is, due to my hourly time frame which is 4, sometimes I need to leave my deal open overnight and by 10 pm London time it will hit the stop loss because of large shadows no matter what and that means no more overnight deal for me. Just wanted to know do you have the same experience as me by any chance. Or you might have some solution for it in regards etc.
Appreciate your kindness and thought if you could help please. Cheers

At the times of market closure and opening, the spread usually becomes very wide and it can easily hit your stop loss. The only way to avoid that is to cancel your stop loss shortly before the market closes and add it again when the volatility settles sometime after opening.

Edit, it is even better not to leave any forex positions open overnight, you never know what will happen in the Asian markets.

1 Like

I see. Many thanks. That means I have to have access to the platform at all time. Do you know if is it the same with all other brokers?
Sorry ,it might be a silly question but as I have not used any other broker in the UK I just thought to ask that. :slight_smile:

Some brokers have “Day” orders, which expire at the end of the trading day, they will not protect from volatility on close and you will need to re-order after themarket opens.
“Limit on Close” orders can be useful, but these also expire at the close and need to be re-ordered.

1 Like

Could I please ask you, do you have any recommendation like what is good to trade on 212. Forex not seems the best on this platform. I have no idea what mainly other 212 users trade here. I thought you might have some clue to guide me. Appreciate your kindness.